Donald Trump eyeing 10% tax cut for middle class

Ten percent tax cut. What better way to rile your base right before an election.

He said both House Ways and Means Committee Chair Rep. Kevin Brady, R-Texas, and House Speaker Paul Ryan, R-Wisc., were working on it.

WASHINGTON-U.S. President Donald Trump, speaking to reporters at the White House as he left on a campaign trip to Texas, said on October 22 his administration planned to produce a resolution within two weeks calling for a 10 percent tax cut for middle-income people.

His new plan, which he first mentioned at a campaign rally on Saturday, has been greeted with skepticism - mainly because Congress isn't in session to discuss it and it could be hard to pass a tax cut after voters head to the polls if Democrats win control of the House of Representatives.

One potential solution: "a symbolic nonbinding "resolution" created to signal to voters ahead of the elections that if Republicans hold their congressional majorities they might pass a future 10 percent tax cut for the middle class".

I bet Italy wished it had the USA fiscal policy system.

He claimed that his Republican party will do well against the Democrats.

The proposal follows the massive tax law that Republicans muscled through Congress late past year and Trump signed as his major legislative achievement. He said Republicans should have spent more time in recent weeks talking about how their economic agenda was helping the middle class. However, it should be noted that Congress will not be in session until after the midterm elections.

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Democrats have hammered that theme relentlessly in their campaigns, accusing Republicans of attempting to take away government support from middle-income Americans while enriching the wealthy.

That law was a tax cut on individuals and corporations.

Harris positioned her proposal in opposition to the Republicans' tax cuts - which she said are "tax breaks for the top 1 [percent] and corporations". The president initially suggested Congress would pass this tax cut before the election. That bill, known as Tax Cuts 2.0, would make some parts of the initial round of tax cuts - known as the Tax Cuts and Jobs Act of 2017 - permanent, introduce a number of provisions to help Americans save more and expand tax breaks for startup businesses.

But Republicans don't have a budget to use as a vehicle for reconciliation, because they never agreed to one this year.

Details of the new plan are said to be coming later.

Congress temporarily cut the payroll tax by two percentage points under President Barack Obama in 2011 and 2012. In the Senate, GOP officials said calls and emails were sent to their House counterparts for guidance this past weekend, only to find out there wasn't any - nobody was sure what exactly the President was referencing.

"The middle class will see straight through this scam just like they did with Trump's broken promise to deliver $4,000 wage increases" under the tax law, Wyden said in a statement.

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